Several very cool things happening in this video. First, this is the SpaceX's Grasshopper's highest successful test launch yet, reaching an altitude of 840 feet--three times its previous altitude mark. Second, recognize that Grasshopper is intended to be a reusable VTVL rocket, meaning it takes off and lands vertically. This is technology that SpaceX hopes to eventually incorporate into its Falcon 9 rockets that currently carry its Dragon Capsule. Third, this video is being shot with a super stable hexacopter drone, much like the 3DRobotics drones NASA is using to film its test flights. And finally, I can't help but notice the timing of this test and video, just a day after Orbital Science Corp.'s big Antares rocket test. SpaceX and Orbital Science Corp. are technically competitors, both vying for NASA contracts. This is the privatized space race happening right before our eyes.